Wells Street Journal: Labour parent deserts its Nest


For those who remember the heady Blair years their first recollection will not be the Bank of England being given independence or the invasion of Iraq, but of course the fanfare that accompanied the launch of Nest.

Labour provided a multi-million pound DWP loan to set up the pension scheme, which it said was needed to fill the dearth of private sector providers stepping up to serve the coming auto-enrolment market.

But in a surprising U-turn the Wells Street Journal can now reveal, in a move Judas Iscariot would be proud of, Nest’s own creator has decided to use rival scheme The People’s Pension for its staff.

Perhaps the news should not come as a surprise.

Who could forget Blair’s bold claim that “education, education, education” would be his government’s battle cry, only to snub the state system and send all his children to public schools.

It is understood the Conservatives also use the provider to meet their auto-enrolment duties.

However, it is unclear which scheme the Liberal Democrats uses for its staff, though it is believed headcount is now so low the party could embarrassingly be considered a micro employer.

Nest declined to comment.



Wells Street Journal: Dampier’s brush with death

Is Hargreaves Lansdown’s research pro Mark Dampier the new Bear Grylls? At first glance the two appear to have very different lives: one is a respected fund researcher, while the other sleeps in a camel carcass to keep warm. However, Dampier has been honing his explorer skills in preparation to take Gryll’s place in the […]

Wells Street Journal: Altmann excluded from Twitter list

On a regular basis, the Department for Work and Pensions issues an updated list of official Twitter accounts. Since the election, nine such lists have been published, including the likes of disability minister Justin Tomlinson and DWP permanent secretary Robert Deveraux. But there are two other DWP ministers with Twitter accounts, who don’t make the […]

Wells Street Journal: Pensions minister’s mystery admirer

Valentine’s Day is months away but pensions minister Ros Altmann already has a secret admirer, WSJ can reveal. A search on Twitter will quickly reveal the consumer champion turned state pension scapegoat has some outspoken critics. But is is not all doom and gloom for the embattled Tottenham baroness. During Money Marketing’s exclusive interview at […]

Wells Street Journal: HMT ‘not responsible’ for money

The Treasury has an astonishing new set of responsibilities, which don’t monitoring government funds, the Wells Street Journal can reveal. After intense pressure from a hack at WSJ sister title Money Marketing, one Whitehall insider blurted out to a hack that cash was no longer the focus of the Government’s erstwhile bank vault. “It’s not […]

10 September thumbnail

Johnson Fleming set to hold auto-enrolment support webinar

Two years since the process of auto-enrolment began, the looming re-enrolment deadline provides the perfect opportunity to assess whether the support you have in place, which may well have been hastily selected at the start, is fit for purpose. Johnson Fleming is holding a webinar on 10 September at 11:00 to discover the key issues and concerns you should consider when thinking about your current support options.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com